10:34 AM EDT, 07/31/2024 (MT Newswires) -- Vita Coco ( COCO ) shares rose more than 6% in early trading Wednesday after the company reported better-than-expected Q2 earnings.

The company posted Q2 earnings of $0.32 per diluted share, up from $0.31 a year earlier.

Analysts surveyed by Capital IQ expected $0.29.

Net sales for the quarter ended June 30 were $144.1 million, up from $139.6 million a year earlier.

Analysts surveyed by Capital IQ expected $144.2 million.

Vita Coco ( COCO ) said it continues to expect 2024 net sales to be between $500 million and $510 million. Analysts surveyed by Capital IQ expect $509.9 million.

Price: 26.34, Change: +1.71, Percent Change: +6.94